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No future(s): Asian financial coal trading dries up as Noble declines, Glencore rules


By Henning Gloystein and Vera EckertSINGAPORE/FRANKFURT (Reuters) - Financial trading of thermal coal has virtually ceased in Asia as a result of the woes at one major trading house and the growing dominance of another, despite the region being by far the world's biggest consumer of the fuel.Asia gobbles up some 70 percent of all coal used for power generation, and the unprecedented demise of its futures market poses significant risks for utilities in particular.With coal prices rising sharply this year, power generators would usually hedge or protect themselves by taking positions in related ...

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First Published: Mon, October 23 2017. 13:59 IST